Description
FAQ of Bicycle All Risk Insurance
Yes, you can purchase this policy as long as you are a Malaysian PR or hold a valid employment pass, dependant's pass, work pass, long-term visit pass or student pass in Malaysia.
No. This insurance covers bicycle of 5 years or lower (calculated from the date of manufacture).
No. There is no free-look period for this policy.
Yes, we accept brand new and used/secondhand bicycle. However, your used/secondhand bicycle must be of 5 years or lower (calculated from the date of manufacture).
The coverage takes effect upon receipt of successful premium payment by Rideclick Technology Consultation and the customer will receive the confirmation of cover email/message stipulating the coverage period.
• The policy excludes theft of bicycle in the open unless the bicycle is under the control and surveillance of the Insured.
• Damage or loss of part is restricted to occurrence arising from accidental collision or overturning or collision overturning consequent upon mechanical breakdown in the course of cycling only.
• The basis of settlement of this policy shall be on market value basis and exclude wear & tear, betterment, improvement and advancement except for bicycles less than 1 year old (calculated from the date of manufacture).
• The basis of settlement for bicycles less than 1 year old (calculated from the date of manufacture) shall be based on replacement cost and exclude the betterment, improvement and advancement.
• The age of the bicycle is up to 5 years only (calculated from the date of manufacture).
• Damage or loss of part is restricted to occurrence arising from accidental collision or overturning or collision overturning consequent upon mechanical breakdown in the course of cycling only.
• The basis of settlement of this policy shall be on market value basis and exclude wear & tear, betterment, improvement and advancement except for bicycles less than 1 year old (calculated from the date of manufacture).
• The basis of settlement for bicycles less than 1 year old (calculated from the date of manufacture) shall be based on replacement cost and exclude the betterment, improvement and advancement.
• The age of the bicycle is up to 5 years only (calculated from the date of manufacture).
• Loss or damage for racing, pace-making, reliability trial, demonstration or speed-testing.
• Loss or damage to the bicycle whilst it is operated by any other cyclist other than an authorized cyclist.
• Loss or damage to the bicycle when it is used beyond its permitted limitations.
• Loss or damage to the bicycle when the cyclist is under influence of intoxicating liquor or drugs.
• Loss of accessories/parts unless the whole bicycle is stolen at the same time.
• Loss or damage to the bicycle when in transit as unaccompanied baggage including during loading and unloading.
• Loss or damage due to wear and tear, depreciation, gradual deterioration, rust, vermin, war and invasion.
• Loss or damage due to convulsion of nature.
• Loss or damage caused by the willful or dishonest act of the Insured or the dishonest act of any person whom the bicycle is entrusted
• Loss or damage due to overloading/over straining
• Loss or damage for which the seller or manufacturer of the bicycle is responsible either by law or under a contract
• Loss or damage to the bicycle whilst it is operated by any other cyclist other than an authorized cyclist.
• Loss or damage to the bicycle when it is used beyond its permitted limitations.
• Loss or damage to the bicycle when the cyclist is under influence of intoxicating liquor or drugs.
• Loss of accessories/parts unless the whole bicycle is stolen at the same time.
• Loss or damage to the bicycle when in transit as unaccompanied baggage including during loading and unloading.
• Loss or damage due to wear and tear, depreciation, gradual deterioration, rust, vermin, war and invasion.
• Loss or damage due to convulsion of nature.
• Loss or damage caused by the willful or dishonest act of the Insured or the dishonest act of any person whom the bicycle is entrusted
• Loss or damage due to overloading/over straining
• Loss or damage for which the seller or manufacturer of the bicycle is responsible either by law or under a contract
Yes, claim for theft will be paid if your bicycle is parked in a secure, well-lit and surveillance area or there is evidence of forcible entry or break-in.
The value of your bicycle will be determined by the purchase invoice or reinstatement value of the same items, parts, or accessories.
When you complete the purchase, you will get a confirmation message on your screen. At the same time, you will receive confirmation via email. You will be receiving your policy from Rideclick Technology Consultation within 5 - 7 working days. If you do not receive any confirmation or/and policy, please reach out to us via [email protected]
As long as your bicycle is under control and surveillance of your direct line of sight.
Yes, you may email us the upgraded bicycle photos, purchase invoice and state amount of upgrade to endorse policy. Additional premium will be charge for upgrade of sum insured on pro rate basis.
If your bicycle amount insured is less than the actual value at the time of loss (i.e. under insurance), you are deemed to have self-insured the difference. For example, the sum insured purchased was RM5,000. However, the value of the bicycle at the time of loss is RM10,000. The insurance will pay for the proportion of the loss which relates to the sum insured purchased divided by actual value.
The calculation for the claim amount as follows (assuming that your bicycle is 1 years old or older):
Amount claimable/payable :
(Claim/loss amount incurred x Insured amount) / Market value of insured bicycle at the date of loss = Payable amount to insured
Example of Calculation :
(RM8,000 x RM5,000) / RM10,000 = RM4,000
The calculation for the claim amount as follows (assuming that your bicycle is 1 years old or older):
Amount claimable/payable :
(Claim/loss amount incurred x Insured amount) / Market value of insured bicycle at the date of loss = Payable amount to insured
Example of Calculation :
(RM8,000 x RM5,000) / RM10,000 = RM4,000
The coverage pays repair, new and replacement parts as long as the claim amount is within the sum insured purchased.
This basis of settlement shall be on market value basis and exclude wear & tear and betterment, improvement and advancement except for bicycles less than 1 year old.
Yes, there is a minimum excess of RM750 or 15% of loss, whichever is higher which you will have to bear. Excess applies to all types of claims including theft.
For simple understanding, your insurance excess is the out of pocket amount you have to pay when making a claim. For example, if excess is RM750 and your repair claim is RM5,000, that means you'll have to pay RM750, while your Rideclick Technology Consultation pays the remaining RM4,250.
Notify us at [email protected] within 24 hours from accident date & time. Supporting documents for claims submission:
• Completed claims notification form
• Repair or replacement bill
• Pictures of damage bicycle / parts / accident scene
• Proof of ownership (if available)
• Police report
• CCTV footage (compulsory for theft, optional for accident
• Completed claims notification form
• Repair or replacement bill
• Pictures of damage bicycle / parts / accident scene
• Proof of ownership (if available)
• Police report
• CCTV footage (compulsory for theft, optional for accident
No, the insurance covers within Malaysia only. New policy will be issued with Rideclick Technology Consultation for worldwide extension, existing policy with Tune Insurance will be cancelled and refund is allow on short rate premium basis.
No, the insurance cover follows the insured person and is not transferable